US SEC’s Advisor thinks crypto spring is going to come

Summary:

  • CME Group does not plan changes for its Bitcoin futures market
  • US SEC’s Szczepanik thinks crypto spring is going to come
  • Bitcoin begins week at around $3955

Major cryptocurrencies experienced some rises on Friday and Saturday. However, Sunday’s trading brought some downward price movements for major cryptos. Moreover, they have experienced slight losses also during the first hours of today’s trading. According to CoinMarketCap, the capitalization of the crypto market stands a little above the $139 billion handle whereas the largest digital currency Bitcoin accounts for roughly 50.8% of this value.

Bitcoin (BITCOIN on xStation5) experienced three consecutive days of rises last week. Moreover, the largest virtual currency broke above the $4000 handle for a while during Saturday’s trading. However, Sunday was not so rosy for Bitcoin as it erased a part of its fresh gains. Source: xStation5

CME Group doesn’t plan changes for its Bitcoin futures market

The Cboe Futures Exchange announced last week that it would not add new Bitcoin futures contract in March (we wrote about this on Friday). Note that CoinDesk (the popular crypto website) asked the CME Group about its plans connected to its Bitcoin futures market. A spokesperson of the CME Group said for the website that the exchange planned “no changes to the announcement re our bitcoin futures contract”. Moreover, this information may not be surprising as volume of the CME Group’s Bitcoin futures has been roughly more than double compared to volume of the CFE’s Bitcoin futures, as the Coindesk reports.

Ethereum (ETHEREUM on xStation5), like its bigger peer Bitcoin, saw a slight drop during yesterday’s trading, and it has begun also today’s trading in red. The second biggest virtual currency has not managed to distance from its 50-period moving average (a light green line) on the daily chart, and Ethereum is moving a little above it at press time. Source: xStation5

US SEC’s Senior Advisor thinks crypto spring is going to come

The US Securities and Exchange Commission’s Senior Advisor for Digital Assets Valerie Szczepanik produced some remarks about cryptos during the SXSW conference in Austin, Texas. The SEC’s Senior Advisor remarked that she thinks “if we hope to smell the crypto spring in the air, it will take people walking with the regulators”. Moreover, Szczepanik said also that she thinks “the spring is going to come” in the topic of cryptos, as the Coindesk reports. Furthermore, the Senior Advisor for Digital Assets stated that the Commission has not produced clear regulations yet, because its approach is aimed to support innovations.

Litecoin (LITECOIN on xStation5) moved noticeably higher at the opening of Saturday’s trading. However, the cryptocurrency slightly went down yesterday, and it has also experienced a drop thus far today. As a result, Litecoin is trading a little above the $59 handle at press time. Source: xStation5

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Morning wrap (30.11.2020)
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.